Peru: Banana And Plantain Market 2025

Banana And Plantain Market Size in Peru

The Peruvian banana and plantain market reduced modestly to $X in 2022, stabilizing at the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.2%. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in Peru

In value terms, banana and plantain production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.4% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

In 2022, the average banana and plantain yield in Peru fell to X tons per ha, remaining constant against the previous year's figure. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by 9.8%. Over the period under review, the average banana and plantain yield reached the maximum level at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of bananas and plantains were harvested in Peru; almost unchanged from the year before. The harvested area increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when the harvested area increased by 8.9%. Over the period under review, the harvested area dedicated to banana and plantain production attained the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Banana And Plantain Exports

Exports from Peru

In 2022, overseas shipments of bananas and plantains increased by 17% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, banana and plantain exports surged to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Panama (X tons) and the Netherlands (X tons) were the main destinations of banana and plantain exports from Peru, with a combined 40% share of total exports. Germany, Switzerland, South Korea, Finland, Austria, Italy, Japan and Belgium lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +232.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Panama ($X) and the Netherlands ($X) appeared to be the largest markets for banana and plantain exported from Peru worldwide, with a combined 33% share of total exports. Germany, Switzerland, South Korea, Italy, Austria, Japan, Finland and Belgium lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Switzerland, with a CAGR of +230.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, picking up by 22% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Peru

In 2022, imports of bananas and plantains into Peru fell markedly to X tons, declining by -30% compared with 2021. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 2,840%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, banana and plantain imports skyrocketed to $X in 2022. Overall, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 1,261% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons) constituted the largest supplier of banana and plantain to Peru, accounting for a 58% share of total imports. Moreover, banana and plantain imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Chile amounted to +107.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.1% per year) and Ecuador (+37.0% per year).

In value terms, Chile ($X) constituted the largest supplier of bananas and plantains to Peru, comprising 66% of total imports. The second position in the ranking was held by the United States ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Chile totaled +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.8% per year) and Ecuador (+19.2% per year).

Import Prices by Country

In 2022, the average banana and plantain import price amounted to $X per ton, surging by 131% against the previous year. Over the period under review, the import price, however, saw a deep reduction. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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